Masters in Management: US vs Europe

Combining prominent touristic appeal with famously admired academic reputations, the US and Europe are both home to world-renowned universities for master's in management degrees, as highlighted in the recently released QS Masters in Management Rankings 2019. Of the 135 business schools in the ranking, 21 are in the US, while a whopping 96 are based in Europe, including 27 in the UK. The ranking assesses each institution according to five important indicators: employability, alumni outcomes, value for money, thought leadership, and diversity.

In addition, both study destinations are very well known for their many business-savvy cities, which makes them the ultimate study environments for students wishing to pursue careers in the world of business and management.

If you’re trying to decide whether to study your master’s in management degree in the US or Europe, read on for an in-depth breakdown of how they compare.

United States

For applicants aspiring to further their studies in management, there are numerous top US business schools currently offering internationally-renowned master’s in management courses which provide students with valuable theoretical knowledge, as well as practical work experience to prepare future business managers for the competitive and ever-changing world of business.

For master’s in management courses, the US is home to four institutions in the global top 50, and 11 are ranked in the top 100. Ranked number one in the US in this year’s master’s in management ranking, the Michigan Ross School of Business is currently placed at joint 16^th in the world for the subject, scoring the highest in the country for thought leadership, and its second-highest score for the alumni outcomes indicator, followed by value for money. Given its impressive scores overall, the school’s Master of Management course – through relevant action-based curriculum – provides students with the leadership skills and capabilities required in business managerial roles, including a job-search program designed and intended to boost students’ potential to land their perfect job.

Of course, prestige often comes with a hefty price tag, and with that notion firmly embedded in mind, it’s no surprise that tuition fees across US universities are the most expensive in the world – with fees at Michigan currently standing at $48,733.

However, topping the master’s in management rankings as the US institution which offers the most value for its money is Northeastern University’s D’Amore McKim School of Business, which currently ranks fifth in the US and 58^th in the world. With tuition fees of US$24,000 (far lower than the global average of $51,916), the university also promises a high starting salary for graduates, who can expect to earn around a sizeable US$81,000 per annum.  

For those who want to study at a highly diverse business school, the highest-ranked US institution for the diversity indicator in the Master’s in Management Ranking is Boston University's Questrom School of Business, which is ranked joint 39th overall for its MS in Management Studies. 55 percent of students enrolled in the school’s MS in Management program are from outside the US, with a total of 19 nationalities represented.

Master’s in management classes in the US tend to be less diverse overall than the world average, with international students making up 37 percent of a typical class, while the global average is 48 percent. However, they do have an equal 50/50 split between women and men, which is in line with the global average.

Europe

Leading the rankings with some of the most globally respected institutions for higher education, European business schools boast an uninterrupted run in the top 10 for master’s in management courses. They also tend to charge much less than US business schools – these include UK universities which, although still expensive, can charge tuition fees that are up to two or three times lower.

Currently ranked number one in the world for its MSc Strategic Management program, HEC Paris achieves the second-highest score in the top 10 for its value for money. Although fees are high, standing at €39,700 for non-EU students (approximately US$46,500), 2017 graduates earned an impressive starting salary of US$70,036. HEC Paris also excels in a few other departments, scoring a perfect score for alumni outcomes and very high scores across thought leadership and employability, respectively. 

However, the highest-ranked European business school for the value for money indicator is Spain’s ESIC Business & Marketing School, ranked 78^th overall for its master’s in management program, which has tuition fees of €20,700 (~US$24,200). ESIC graduates in 2017 earned an average starting salary of an impressive $85,000, making an excellent return on their investment.

In terms of diversity, it’s no secret that the US is also home to some of the most multicultural cities in the world, but with UK capital London eminent for its unparalleled cultural diversity, other famous European cities – such as Paris and Berlin – encompass a range of nationalities and cultures, combined with a prevailing touristic appeal.

Scoring the highest and most perfect percentage for diversity, IE Business School ranks sixth in the world for its Master in Management degree, with 79 percent of its class of new students in 2017 made up of international students, and 66 nationalities represented in total. Overall, international students make up 54 percent of the average master’s in management class in Europe, higher than the global average (48 percent) and with 17 nationalities represented, higher than the US in which only seven nationalities on average are represented in master’s in management classes. European business schools also tend to have a slightly more diverse faculty, with 43 percent of professors coming from outside the host country, in contrast with the US, where it’s 27 percent.

Like the US, there is an equal 50/50 split between men and women in European business schools, with London School of Economics and Political Science (LSE, ranked seventh) having a particularly good split in what can sometimes be a male-dominated course, as 59 percent of students are women.

At a glance: Master’s in Management Degrees in the US and Europe

So which will it be for you, the US or Europe? Here’s a full overview of the main stats:

United States

Europe

Which one gets your vote? Let us know in the comments below, and find out more about studying in a particular country with our study destination guides.